A Chinese firm will invest more than 10.3 million euros (15 million dollars) over four years to exploit a forest area in northern Congo, an economy ministry said Wednesday.
Under the deal, the Chinese firm Wang Sam Resources and Trading Company Congo is to be granted a forest area of 706,452 hectares, located in Makoua more than 600 kilometers (360 miles) north of Brazzaville.
The agreement, under which at least 310 jobs will be created, was signed by Economy Minister Henri Djombo and the head of Wang Sam Reseources, Wan Li Liu, a ministry statement said.
The Chinese firm will set up a sawing factory, a timber drying unit and an industrial woodwork workshop, it added, with timber production of 13,563 cubic meters planned in 2011 and 135,628 cubic meters in 2015.
Until now, China has mainly focused its investment in Congo on infrastructure projects (roads, hospitals and dams) as well as oil, the country's main resource.
Last month, Congo's largest dam with a 120-megawatt capacity and mainly funded by China, was unveiled in Imboulou, about 260 kilometres (160 miles) north of Brazzaville.
del.icio.us
Digg
Reddit
Google
